Prosper update

I’m starting to do my taxes, so I’ve been looking at my Prosper statement.  I must stay, the headache of figuring out the taxes is a major disincentive to lending through Prosper.  The couple of bad loans I’ve had are a particular bother.  Prosper’s tax page is pretty much useless: this blog post  and this wiki are a lot more helpful.

Since the last time I wrote about Prosper in October, my performance has dropped quite a bit.  As predicted, the two loans that were 3 months late were sold as delinquent; I now have another 3 that are between 1 and 3 months late.  What’s striking is that only one of them was what I’d consider a "high risk" loan based on credit — the other two had A or AA ratings.  And when I picked my loans, I made a deliberate choice to avoid anyone who wanted money for a real estate deal… So, another sign that people are hurting…

One Response to “Prosper update”

  1. Elizabeth Says:

    And in other Prosper news: http://www.democracynow.org/2008/3/3/headlines#15

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